Capital gains case, Juve: “Operated in compliance with the laws”

Juventus is “convinced that it has operated in compliance with the law”. This is the position of the club in relation to the investigation by the Turin prosecutor on the ‘capital gains case’ and on the company’s financial statements. “Juventus remains convinced, also taking into account the legal and accounting investigations carried out by the Company with the help of its consultants and the legal and technical-accounting opinions acquired by the Company, that it has operated in compliance with the laws and regulations governing preparation of financial reports, in compliance with the applicable accounting principles and relative application criteria and in line with the international practice of the football industry “, reads a note from Juventus. Read also “The accusatory hypotheses put forward by the Public Prosecutor’s Office, partly modified with respect to the original prospects, refer to alleged crimes of false corporate communications, false communications addressed to the market, obstacle to the exercise of public surveillance authorities (Consob, in case in point) and fraudulent declaration through the use of invoices for non-existent operations – continues the press release from the Juventus club -. 6/2020 and 30/6/2021 and relate to operations improperly called ‘exchange’ of rights to the sports performances of players and to agreements for the reduction and integration of the remuneration of registered personnel concluded in the financial years 2019/2020, 2020/2021 and 2021/2022. The Company and its representatives recipients of the notice may, within twenty days, view and extract a copy of the the investigation documents pursuant to art. 415-bis of the Italian Criminal Code for the purpose of exercising their rights of defense “. On the subject also the lawyers Maurizio Bellacos and Davide Sangiorgio, respectively lawyers of the company and of the president Andrea Agnelli as well as of some executives.” the financial statements and having made improper communications to the market, Juventus and its representatives believe that they have operated in compliance with the laws and technical-accounting principles on the subject “, they say.” Juventus has distinguished itself for having implemented, in full transparency and respecting to the letter the regulations, to two different capital increases – continues the press release from the lawyers -. These extraordinary transactions confirmed the Company’s solidity in the Italian football scene. In particular, the second capital increase, launched autonomously by the Company in June 2021, that is to say a few months before the investigation by the Turin Public Prosecutor’s Office became known, had the aim of strengthening the Company’s assets following the strong impact of the pandemic. The amounts of these capital increases exceed and largely absorb the numbers of formal disputes of this investigation, which in any case would have no effect on the company’s debt “.